Loading…
A sealed-bid auction for 55,000 tonnes of Western Sahara phosphate rock held aboard the NM Cherry Blossom, seized in South Africa, was due to close on April 19 with a starting bid of $1 million. A February 2018 High Court ruling gave ownership of the cargo to the exiled Saharawi government rather than OCP.
The seizure and auction affect the routing and ownership of a single 55,000-tonne cargo, a small share of global phosphate rock trade, so the price impact is minimal.
wsrw.orgApr 17, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
